Debt Management

Ideal Debt Solutions to Think About

Are you mired in debt but you can’t think of any ideal debt solutions to help you overcome your financial problems? You are not alone; millions of people around the world are stuck in the rut trying to overcome their financial circumstances. However, the lack of knowledge on the available debt solution options is holding them back from making the significant strides in their financial health.

Don’t be caught in the same hamster wheel. Be informed. Educate yourself about the following debt solution options so you can make the decision that is best for you and your wallet.

  • Personal debt management. Debt management, also known as debt consolidation, is all about making a more favorable arrangement for your financial obligations. Say you are dealing with 5 different credit card firms over credit card debt; consolidation allows you to pool together the credit so you only end up talking to one lender. This way, you can standardize your payments and make sure you are not leaving any one debt behind. To know more about debt management, talk to expert financial advisors who will show you options on how best to manage your debt.
  • Debt management switching. Just because you are in a debt management plan does not mean things are working out well for you. In fact, bad debt management plans put you in a tighter bind than if you were not consolidating debt. But fear not; you always have the option to switch your plan to something more favorable, one that has lower fees, and with a shorter projection for debt resolution.
  • Individual voluntary arrangement. An IVA is essentially an agreement between you and your creditors that you will settle your debt via fixed payments provided some terms are agreed on to help you get back on your feet. You can get interest and charges frozen with an IVA so you only pay for the debt you have today. Instead of filing for a bankruptcy, you can use an IVA instead as a healthier alternative.
  • Bankruptcy. If push comes to shove and you don’t have any more options, consider filing for bankruptcy protection so you can focus on resolving your current situation via use of your existing assets. Bankruptcy is never a fun option for debt resolution but if you are to do it, then better do it correctly.

Don’t lose hope because you cannot deal with debt problems today. Exploring these ideal debt solution alternatives will put you on the right way to recovery so you can regain the personal financial freedom that you have lost due to debt. 

Extra Income

Sensational Ways to Earn Some Extra Cash

These days many people find it difficult to make ends meet in a financial sense. A lot of us are still feeling the after effects of the recessions, and as such money is tight. Because of this it’s necessary to look for ways to bring in extra cash. This extra money will help supplement your lifestyle, and give you a bit more disposable income.

You need to think about the different ways to earn some extra cash. Of course, there are obvious ways to do this, such as saving up and cutting down on expenses. However, you want to look more at ways you can bring in extra money on top of what you’re already earning. This is a list of some of the best ways to do that.

Extra Cash

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Work For Yourself

These days it’s become popular for people to quit their jobs and work for themselves. This is always an option for you. When you’re self-employed, you have more control over what you earn than when you’re an employee. As such you can make sure you earn more money. However, if you want to go into business for yourself, you’re going to need to realise that there’s a lot of work involved. This isn’t going to be an easy route to take, and you’ll have a while before you see a significant return. So this isn’t a great option for the short-term.

Claim Money Back

An untapped resource these days is to claim back any cash you’re entitled to. This is something that is readily available, but not enough people take advantage of this opportunity. You might be entitled to tax back or compensation from mis-sold loans or PPI. You need to look into this. The good news is that there are plenty of companies out there that will be able to file a claim for you. If you think you have a case to claim back some money you need to get in touch with one of these companies.

Sell Some Stuff

You’re bound to have a lot of junk lying around, and if so you need to think about selling some of it. There’s no doubt you’re going to have some possessions you no longer need or want anymore. So you need to get online and start selling these. Of course, you could sell them offline, but making use of the likes of eBay is a much more efficient and practical way of doing it. 

Take on a Second Job

Another way that you can make extra cash is to take on a second job alongside your existing one. Now, there are plenty of options for a second job, but a lot will depend on you being able to fit it around your busy schedule. The most practical and logical approach would be to take on a job you can do in the evenings. Something like e-commerce or another kind of job you can do online would be perfect.

There are plenty of ways in which you can earn extra money nowadays, and it’s important to do so. Every little helps in that respect, so you need to look for ways to bring in extra income. Have a look at the tips on this post. They will provide you with plenty of ideas for ways to generate some extra money.

Mind Over Money

The Best Thing you Can Do For Your Life

I went to the library the other day and it brought back memories of when I was younger. My mom used to take me there on the weekends and I’d spend all day there just looking at all of the different books and deciding which ones I wanted to check out. I had a blast reading. It was fun soaking in the knowledge of things I didn’t know about. The best thing you can do for your life is

Learn

Get over the idea that only children should spend their time in study.  Be a student so long as you still have something to learn, and this will mean all your life.  ~Henry L. Doherty

Learning can do so many things for you. It can help you save money, entertain you, and even help you become a better person.

The great thing about learning is that when you’re in the process of learning one thing, it can lead you to want to start learning about another thing. Like if I wanted to learn about how to change my own oil in my truck, that might lead me learn about the different types of oil, which can lead you to learn about how oil is processed, which could lead you to alternatives to oil. Kinda like the six degrees of Kevin Bacon.

Read

Reading is one of the easiest ways to learn. Reading is also one of the cheapest ways to learn. You can always go to the library for free or buy books used.

The best of my education has come from the public library… my tuition fee is a bus fare and once in a while, five cents a day for an overdue book.  You don’t need to know very much to start with, if you know the way to the public library.  ~Lesley Conger

Try to read a new book every month if you can. I just started reading a new book every week and posting reviews on them.

To get the most from reading, it helps to take notes. I prefer to take notes at the end of each chapter. It really helps you to in grain in your mind what you read. You can also go back to your notes if you want a refresher without having to read the whole book again.

Just Do It

Experience is the best knowledge you can have. I wanted to learn about making a blog so I read and read and read…..and read. But the real learning didn’t take place until I actually jumped in and created this blog. I started to learn things I didn’t even think I needed to know. That’s just how some things are. If you don’t have an awareness of something, then how can you try to learn it? Like if you never heard of ETF’s, then how can you learn about it? But if you start to invest in the stock market then you will become aware of them, and then you will be able to learn about it.

If you don’t make mistakes, then how can you learn from them?

The purpose of learning is growth, and our minds, unlike our bodies, can continue growing as we continue to live.  ~Mortimer Adler

P.S. Some of the links in this post I earn a little bit of money from, in order to pay my bills. But I promise to never to intentionally lead you to a bad company and to never let the money affect my opinion.

How do you learn the best? When was the last time you read a book or jumped head first into doing something you’ve never done before?

Home Ownership

10 Coastal Communities That Are Actually Affordable

Finding the best property starts by nailing down the ideal location. For many of us living in a beachside community is at the top of our bucket list. Living in a coastal city is like perpetually being on vacation. Time seems to move a little slower and everyone appears to be in good spirits when they’re near the water.

If you’ve ever taken a beach vacation you may think living the dream of an oceanfront lifestyle is way too expensive unless you have an upper-class income. While that may be true in some coastal cities, there are many communities that offer affordable living for the middle class. Make your coastal living dream come true in one of these affordable beach towns.

Corpus Christi, TX

For a sizable city, Corpus Christi, TX is actually quite affordable, even though it’s right next door to popular Padre Island. There are a number of things that make Corpus Christi an inexpensive coastal city. For starters, Zillow estimates that the average home price is just under $200,000. The area is also deregulated, which means you can compare electric rates Corpus Christi providers currently offer to find the most cost-effective plan. It’s a big money saver in the hot months of summer. Another consideration is that Texas doesn’t have a state income tax, which offsets the cost of higher home insurance rates on the coast.

Crystal Beach, TX

This city has been noted for being one of the nation’s most affordable oceanfront communities, it’s got the home prices to prove it. With a median home price of just $153,500, it’s easily one of the least expensive cities on our list. Having a population of just 1,600 means Crystal Beach is also an intimate and quiet place to kick back and relax. Plus, a free ferry can take you the short ride to Galveston Island for additional fun in the sun.

Matlacha, FL

Matlacha is one of the few areas of south Florida that is fairly affordable. This old-school fishing community has maintained its character and flair over the years and the vibe has often been compared to the Florida Keys. But instead of paying more than $565,000 for a home you can get a colorful row house for around $185,000.

Pensacola, FL

If you prefer a slightly larger city that’s lively Pensacola, FL is a fantastic option. The city has been called an affordable alternative to Palm Beach, and with home prices that hover around $125,000, it’s definitely more budget-friendly. In addition to miles of white sandy beaches, Pensacola also has a variety of shops, restaurants, and a vibrant nightlife.

Gulf Shores, AL

Alabama doesn’t have as many miles of coastline as other states, but the little bit it has is quite impressive. So are the home prices, especially in the lively coastal city of Gulf Shores. The area is noted for having 32 miles of white sandy beaches, beautiful blue-green water, historic sites and first-class golf courses. At just over $230,000 for the average home, Gulf Shores is a popular spot for retirement or buying a vacation home.

Myrtle Beach, SC

Hilton Head may be a hot spot for golfers and vacationers, but locals know to home shop in Myrtle Beach where a dollar goes a lot further. The popular beach town boasts 100 golf courses in the area, over 1,700 restaurants and 60 miles of beachfront.

Old Orchard Beach, ME

Maine isn’t known for its beaches, but there is one place that’s been a coastal vacation destination for years. Old Orchard Beach comes to life when the weather warms up. There’s a seven-mile strip of beach, a historic pier and an amusement park right on the water. For less than $300,000 you can get your own piece of the “garden by the sea”.

Crescent City, CA

Bet you didn’t think you’d see a California city on the list. Crescent City is in the northern part of the state close to Oregon. It’s a combination of rocky shores and sandy beaches, but there are a variety of aquatic activities to enjoy in the spring and summer. With median home prices at about $250,000, this is one California coastal city people can actually afford. While this may seem like a hefty price tag it’s far less than California’s median home price of just over $490,000.

Empire, MI

The next best thing to the ocean is a great lake. The tiny village of Empire, MI is situated on Lake Michigan, and it’s one of the areas that’s known for its unspoiled beaches. Believe it or not, the dunes can reach 400 feet and the waves are sometimes big enough to surf. A big benefit of living on Lake Michigan is your home insurance will be a fraction of the cost to cover a beachfront property.

Money Management

5 Ways To Cultivate Your Retirement Savings – Infograph

Entitlements such as retirement are a hot-button issue! How are you planning for your future? The key to a comfortable retirement lies in just five simple steps. Start early, take advantage of tax breaks, maximize your employer’s retirement savings plan, manage your risk, and keep tabs on your portfolio throughout the years. Though none of these moves is difficult, the trick is to leverage each to your advantage. The sooner you get started, the bigger the payoff down the line.

 

Saving for retirementImage via: Online Stock Trading Academy